{"id":14234,"date":"2023-06-22T18:48:04","date_gmt":"2023-06-22T15:48:04","guid":{"rendered":"https:\/\/www.liberalglobe.com\/?p=14234"},"modified":"2023-06-22T18:48:06","modified_gmt":"2023-06-22T15:48:06","slug":"eu-labor-costs-rise-by-5-in-q1-2023","status":"publish","type":"post","link":"https:\/\/www.liberalglobe.com\/?p=14234","title":{"rendered":"EU: Labor costs rise by 5% in Q1 2023"},"content":{"rendered":"\n<p>Labor costs increased by 5.0% in the first quarter of 2023 in the euro area and by 5.3% in the EU, compared to the same quarter of the previous year, as announced on Friday 17th, Eurostat, the statistical office of the European Union .<\/p>\n\n\n\n<p>The two main components of labor costs are wage and non-wage costs (insurance contributions and other deductions). In the eurozone, wages and hourly wages increased by 4.6%, while non-wage costs increased by 6.2% year-on-year, while in the EU they increased by 5.0% and 6.1% respectively in the first quarter of 2023.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"838\" height=\"446\" src=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-83.png\" alt=\"\" class=\"wp-image-14236\" srcset=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-83.png 838w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-83-300x160.png 300w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-83-768x409.png 768w\" sizes=\"auto, (max-width: 838px) 100vw, 838px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong>Distribution by economic activity<\/strong><\/p>\n\n\n\n<p>Based on economic activity, hourly labor costs in the euro area rose by 4.1% in the (mostly) non-business economy and by 4.9% in the business economy: +4.9% in industry , +4.1% in construction and +5.5% in services. In the EU, it respectively increased by 4.4% in the (mainly) non-business economy and by 5.5% in the business economy: +5.5% in industry, +4.4% in construction and +5.8% in services .<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"834\" height=\"489\" src=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-84.png\" alt=\"\" class=\"wp-image-14237\" srcset=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-84.png 834w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-84-300x176.png 300w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-84-768x450.png 768w\" sizes=\"auto, (max-width: 834px) 100vw, 834px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong>Hourly wage costs between countries<\/strong><\/p>\n\n\n\n<p>The highest wage increases were recorded in Bulgaria (+15.7%), Romania (+14.3%) and Lithuania (+13.2%), while four more EU Member States recorded increases of more than 10%, namely: Estonia (+12.0%), Croatia (+11.3%), Poland (+10.7%) and Belgium (+10.1%).<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"831\" height=\"370\" src=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-85.png\" alt=\"\" class=\"wp-image-14238\" srcset=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-85.png 831w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-85-300x134.png 300w, https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2023\/06\/image-85-768x342.png 768w\" sizes=\"auto, (max-width: 831px) 100vw, 831px\" \/><\/figure>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Labor costs increased by 5.0% in the first quarter of 2023 in the euro area and by 5.3% in the EU, compared to the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[859,5],"tags":[1983,25,930],"class_list":["post-14234","post","type-post","status-publish","format-standard","hentry","category-economics","category-economic","tag-economy","tag-eu","tag-labour-cost"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14234"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14234\/revisions"}],"predecessor-version":[{"id":14239,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/14234\/revisions\/14239"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}